Nowadays, millions of people are now shopping strictly online. In fact, analysts at Baird say that demand for online shopping could create a “$200 billion annual tailwind” and could represent a major, permanent shift in consumer behavior. Wedbush analysts also argue that the pandemic has created big behavioral shifts in consumer behavior, adding that many consumers won’t go back to physical store shopping as they did before. “The retail landscape will look dramatically different in the coming years.” Going forward, according to Statista analysts, eCommerce could create a $6.5 trillion market opportunity, as more than 2.1 billion consumers opt to shop online by 2021. That’s creating opportunity for companies such as Better Plant Sciences Inc. (CSE:PLNT)(OTC:BOSQF), United Natural Foods Inc. (NASDAQ:UNFI), Ulta Beauty Inc. (NASDAQ:ULTA), Amazon.com Inc. (NASDAQ:AMZN), and Shopify Inc. (NYSE:SHOP).
Better Plant Sciences Inc. (CSE:PLNT)(OTC:BOSQF) BREAKING NEWS: Better Plant Sciences Inc. announces that it has signed an eCommerce lease agreement on August 31, 2020 to take over the day-to-day sales of all Jusu Life and Jusu Body products, commencing today. The eCommerce lease agreement, along with an inventory purchase, will allow Better Plant to book revenues from all eCommerce and wholesale sales of over 200 JUSU plant-based products for body, baby and home as of September 1, 2020. The Company plans to complete the acquisition of other JUSU assets, as announced August 18, 2020, over the next few months.
Pursuant to the eCommerce lease agreement, Better Plant has taken over the management of JUSU direct eCommerce, Amazon and wholesale distribution, with the aim to optimize and grow JUSU’s direct-to-consumer, eCommerce sales. The Company is purchasing certain existing inventory for a fee of $25,000 and will also purchase all future inventory to fulfill all sales at a 35% discount to the consumer price of the products.
“Currently, thanks to JUSU’s loyal customer base, its product sales revenues currently sit at approximately $40,000 in monthly sales with a return eCommerce customer rate of 28%. This does not include juice sales or other revenue from JUSU Bar, and no money has been spent on advertising to date to generate these sales. We believe that we can increase revenues significantly by leveraging enhanced digital marketing programs and influencer marketing,” said Gabriel Villablanca, Better Plant’s Director of eCommerce and Digital Marketing.
The Company plans to launch an extensive influencer marketing campaign with a focus on micro-influencers in North America for JUSU, leveraging Urban Juve’s existing network of influencers. The program will involve a large volume of partnerships using a combination of affiliate, contesting, and content-based programs. The Company also plans to increase efforts related to customer engagement to leverage its current customer base to increase customer lifetime value. This will include email and text-based marketing to upsell and encourage repeat purchases, and will also include expanded product offerings such as bundles and subscription models.
“With more people staying at home and with the increased awareness around health, immunity, and wellness, there is an opportunity to build JUSU’s direct-to-consumer business of plant-based home, body and baby products,” added Villablanca. “We want to become a customer-first organization that makes its decisions based on data and what's good for the customer. Using data, we will ensure we have the right products for our customers, at the right time, as well as use it to influence further product launches. Data will drive our decisions enabling us to make better choices, provide better products, and be a better company to our loyal customers.”
CCInsights.org reported that U.S. eCommerce year-over-year revenue growth was up 68% as of mid-April, surpassing a 49% peak in early January. It was also reported that there was 129% year-over-year growth in U.S. and Canadian eCommerce orders as of April 21, as well as 146% growth in all online retail orders.
Other related developments from around the markets include:
United Natural Foods Inc. (NASDAQ:UNFI), North America's premier and largest food wholesaler delivering the widest variety of products to a diverse and expansive customer base, issued the following statement regarding the long-term labor agreement that it has reached with Teamsters Local 414 in Fort Wayne, Indiana. Jill Sutton, UNFI’s Chief Legal Officer, General Counsel and Corporate Secretary, commented: “We’re very pleased that Teamsters Local 414 has ratified a new long-term labor agreement for our distribution center in Fort Wayne, Indiana. UNFI’s four-year contract with Local 414 maintains competitive benefit and wage terms in line with other facilities in the Midwest. The contract also includes language updates that afford UNFI the flexibility it needs to operate and succeed as a competitive distribution business in today’s landscape. We believe this resolution is a positive development for UNFI, our valued associates in Fort Wayne and our customers.
Ulta Beauty Inc. (NASDAQ:ULTA) announced financial results for the thirteen-week period and twenty-six-week period (“First Six Months”) ended August 1, 2020 compared to the same periods ended August 3, 2019. During the second quarter of fiscal 2020, the Company recorded store impairment and closure related costs that reduced reported net income by $33.5 million or $0.59 per diluted share. A reconciliation of non-GAAP financial measures to the respective GAAP measures is included in this release. “We have navigated the disruption and uncertainty of COVID-19 with our associates and guests at the heart of every decision. After closing our stores in the first quarter, we reopened our fleet in the second quarter with Shop Safe Standards and new operating procedures in place to protect the health and safety of all. I remain thankful and proud of our teams for their response and leadership throughout this challenging time and for their grace, agility and commitment to serving our guests,” said Mary Dillon, chief executive officer. “While the pandemic continues to impact our business, we are encouraged by improving trends. Comparable sales trends improved significantly throughout the quarter, from decreasing 37% in early May, as we began reopening stores, to decreasing 10% in July, when most of our stores were re-opened.”
Amazon.com Inc. (NASDAQ:AMZN) introduced Amazon Halo, a new service dedicated to helping customers improve their individual health and wellness. Amazon Halo combines a suite of AI-powered health features that provide actionable insights into overall wellness via the new Amazon Halo app with the Amazon Halo Band, which uses multiple advanced sensors to provide the highly accurate information necessary to power Halo insights. Customers in the U.S. can request early access to Amazon Halo starting today, with the Amazon Halo Band and 6 months of Halo membership available for a special price of $64.99. “Despite the rise in digital health services and devices over the last decade, we have not seen a corresponding improvement in population health in the U.S. We are using Amazon’s deep expertise in artificial intelligence and machine learning to offer customers a new way to discover, adopt, and maintain personalized wellness habits,” said Dr. Maulik Majmudar, Principal Medical Officer, Amazon Halo. “Health is much more than just the number of steps you take in a day or how many hours you sleep. Amazon Halo combines the latest medical science, highly accurate data via the Halo Band sensors, and cutting-edge artificial intelligence to offer a more comprehensive approach to improving your health and wellness.”
Shopify Inc. (NYSE:SHOP) a leading global commerce company, announced strong financial results for the second quarter ended June 30, 2020. “The world is changing fast,” said Tobi Lütke, Shopify’s CEO. “With the rapid shift to online commerce, massive disruption to conventional employment, and growing conviction that opportunity needs to be more evenly distributed, entrepreneurship has never been more important. With all of these changes, our core principles remain the same: everything we ship is designed to lower barriers to entrepreneurship and reduce friction wherever we can.”
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